Real Estate projects in Costa Rica show decline in 2016 in comparison to 2015

During the second trimester of 2016 construction for the private sector declined a 17.3% in comparison to 2015; this is driven by non-residential projects that declined in a rate of 31.1% while residential projects declined in a rate of 6% according to a report by Costa Rica’s Central Bank. The reason for this decline obeys to the fact that 2015 had a big increase in the rate of non-residential projects such as the construction of the City Mall, which even though began in 2014 it wasn’t until the second and third trimester of 2015 that it registered the biggest progress;…